“Let Your Audience Know The Value of Your Product To Stand Out In The Crowd”
We have more apps and software now than ever, and you may wonder how you can use it, so your business stands out in the market. Your business needs to have a USP (Unique Selling Proposition); it’s a fancy way to tell “what so great and unique about your product?. The impact of answering “why should customers buy from you and not your competitor?” is a powerful tool in focusing your business target on delivering USP. USP helps you to improve your business performance and sales.
1. A Well Developed USP Can Improve Customer’s Experience
USP can only be useful if it solves a problem that people are willing to pay with their money or time. A well developed USPs can answer the questions or issues that your potential customers have, and why they should do business with you. The value that you give or provide to them should be greater than the price that they pay; this can differentiate you from your competitors.
To develop a working and meaningful USP, you should determine which benefits are most important to your customers and which benefits are most difficult for your competitors to duplicate. Think about answering the following questions to develop your USP:
1. What is it that your customer seeks and needs?
2. What is your competitor offering as “unique and distinctive” to them?
3. How far can you create a USP that your business can do and maintain?
Creating a USP is a critical process that you want to have in your business. You can create your USP by focusing your product value toward time, quality, or price. Time, condition, or price problem is the answer to outperform your competitors. You can have a business that creates a solution that can solve your customer problems faster than your competitor, having a better solution that increases the quality of your product/service, or you can even compete with your competitor by delivering the same solution at their fraction of cost.
An excellent example that illustrates the impact of USP is the Domino’s Pizza message, where they say: “made-to-order hot pizza delivered in 30 minutes or less – guaranteed”. Domino’s Pizza gives a straightforward and bold message where they can provide a fresh pizza in 30 minutes with a guarantee. The message makes Domino’s Pizza unique and distinctive; it differentiates Domino’s with its competitor. In this case, Domino answer and focus on the time problem; they don’t mention that they will serve a good quality pizza or a cheaper pizza.
2. Ease Your Customer Pain Points
Understanding and being above your competitor is not enough. You need to understand your customer, their pain points and their problems:
- What makes them tick?
- What irritates them?
- What annoys them towards the product/service?
- Would they pay to ease their pain points?
- And, how much would they pay?
Knowing your customer will give you the proper skill to create accurate decision making towards your business. You should be able to create a price point for your product/service after understanding your customer. Make sure to also price your solution according to the value you deliver to your customer.
Write down every idea that you and your partner have on USP. It doesn’t matter how silly they might be, brainstorming your ideas with the data you have will make you end up with a solution that fits your business. Remember, no thoughts are too silly at this point, and those “silly ideas” can be something that differs you from your competitors.
Remember that there’s also a limit to the lifespan of your USP. Your competitor could eventually duplicate or create a better USP to their advantage; that’s the main reason that you should always accept new and fresh ideas for the business. Creating a periodic meeting between members to analyze customer satisfaction and competitive analysis is also needed.
Conclusion
Focusing on your strength and uniqueness that helps you knows what differs your product/service from the rest can help you stand out on the market. Don’t try so hard to be the best on all part (time, quality, and cost), but instead, focus on one thing first and carefully analyze the response of your market. Improving after having a sustainable UPS is also necessary to grow your business performances.
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References:
https://search.proquest.com/docview/209767308/286A537261324523PQ/1?accountid=44931
https://www.entrepreneur.com/encyclopedia/unique-selling-proposition-usp